Our “soft” economy in 2016 may be one of the best ever. It all depends on how you look at the numbers. A quick look comparing our economic indicators of 2015 to 2014 has made many Midlanders nervous. While these numbers do show a decline from one year to the next, it’s important to put this into context.

In almost every way imaginable, 2014 was an anomaly -- from a massive population influx to record-low unemployment numbers, record-high sales taxes and much more. Any year against a year like that would suffer by comparison. However, when you compare 2015 to the two previous years, 2012 and 2013, this most recent year fares very well.

Before we draw any conclusions, I would offer the following facts about out economy:

Certainly, we can all agree that 2012 and 2013 were highly successful from an economic standpoint. Given that context, one might assume that 2012 and 2013 resulted in similar economic trends as 2014 and that 2015 economic results would be far lower. According to the Midland Economic Index supplied by the Midland Development Corp., this simply isn’t the case. For example, in 2012, Midland collected approximately $4.9 million in hotel/motel tax receipts. In 2013, that number was approximately $5.8 million. Even with the drop in oil prices, 2015 boasted almost $7.2 million in hotel/motel tax receipts for the fiscal year.

The same scenario is true in several key areas. For example, total building permit valuations were about 25 percent higher in 2015 than in 2012. Enplanements (boardings) at Midland International Air & Space Port were also higher for 2015 versus 2012 and 2013. Unemployment rates remained lower in 2015 as well -- averaging 3.1 percent for the year (through October). These comparisons hold up in virtually every category. Despite much higher oil prices in 2012 and 2013, the economic index for 2015 shows to be stronger. 2016 may not look good compared to 2014, but it still has potential to be strong.

Nevertheless, this new year will certainly bring forth economic challenges, but I am confident that Midland will show it’s true strength and resiliency. We were once told that we would never again be a true player on the world’s energy stage. New technological advances, and Midland ingenuity proved them wrong. I would encourage all members of our business community to stay positive, think strategically and show the world what we are truly capable of achieving. We have sound reasons to believe Midland’s business climate continues to bring unparalleled opportunity.